Thermal Management Market

Thermal Management Market with COVID-19 impact Analysis by Material, Device (Conduction, Convection, Advanced, and Hybrid), Service (Installation & Calibration and Optimization & Post-sales Support), End-Use Industry, and Region - Global Forecast to 2025

Report Code: SE 5290 Jul, 2020, by marketsandmarkets.com

[251 Pages Report] The global thermal management market is estimated to be USD 12.8 billion by 2025 (forecast year) from USD 8.8 billion in 2020 (estimated year), at a CAGR of 8.2% between 2020 to 2025. The growth of the thermal management market is fueled by rising demand for effective thermal management solutions and systems for use in consumer electronics, increasing use of electronic devices in different end-use industries, and ongoing radical miniaturization of electronic.

Adaptive Learning Market

COVID-19 Impact on the Global Thermal Management Market

The thermal management market includes major Tier 1 and 2 suppliers like Honeywell International, Aavid Thermalloy, Vertiv, European Thermodynamics, Master Bond, Advanced Cooling Technologies, Henkel, Laird, Delta Electronics, and Parker. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, South America, and RoW. The thermal management products manufactured by these companies are used by end-use industries such as automotive, consumer electronics, servers and data centers, healthcare, and few others. COVID-19 not only impacted the operations of the various thermal management industries, but also affected the businesses of companies from the above-mentioned industries. The low demand for consumer electronic devices due to lockdown measures had a global impact on the thermal management market. The continuous fall in the global demand and export shipments for automotive vehicles is also expected to negatively impact the thermal management market. However, the market for thermal management is expected to rebound owning to increasing demand from the healthcare sector. Increasing demand for personal monitoring devices is expected to drive the market even during these times of pandemic.

Thermal Management Market Dynamics

Driver: Increasing use of electronic devices in different end-use industries

Increasing demand for thermal management solutions and systems in different end-use industries such as healthcare, automotive, and aerospace & defense is leading to the growth of the thermal management market across the globe. The growing use of large and small size, high power devices in the healthcare sector for treatment and analysis applications is leading to increased demand for thermal management solutions and systems, thereby leading to the growth of the thermal management market.

Restraint: Design complexities of components used in cooling systems

Issues associated with the manufacturing of cooling systems are optimization of their designs to reduce their power consumption, weight, and cost as well as verification of designs of components used in them. Lowering power requirements of cooling systems without compromising on their performance and reliability is another major problem faced during the designing of thermal components. Power dissipation is a critical factor in the designing of different electronic systems. Increasing clock rate and microprocessor transistor count lead to design complexities in components used in cooling systems, thereby acting as a restraint for the growth of the thermal management market.

Opportunity: Advent of cool chips for thermal management in electronic devices

Cool chips are an active cooling technology wherein chips act as cooling agents for electronic systems installed in computers and automobiles. For instance, in intrachip/interchip enhanced cooling (ICECool) method, chips are employed to overcome heat dissipation issues in electronic devices. This method is used to design embedded systems using microfluids. These microfluids help tackle thermal management issues in the early designing stage of electronic systems. This cooling method is useful in the design and fabrication of microlevel chips to improve thermal resistance and performance of electronic devices. Nanoscale complementary metal-oxide-semiconductor (CMOS) based integrated circuits and embedded systems use chip cooling for effective thermal management.

Challenges: Increase in supply and demand gap owing to COVID-19 pandemic

The COVID-19 outbreak has disrupted the global supply chain of thermal management market. The thermal management devices supply chain is highly dependent on OEMs and raw material suppliers, which are unable to function owing to the lockdowns enforced across different countries of the world. The market is also dependent on the demand for thermal management solutions from the consumer electronics market. China is the largest consumer and producer of various consumer electronic products. The shutdown of the production activities in China led manufacturers of consumer electronic products that are based in the US and Europe to temporarily hold their production activities. As of April 2020, China had resumed its production while the rest of the world had either stopped or are carrying out limited production. So, even after manufacturing activities have resumed in China, the country is not finding too many buyers for its products in the international market owing to lockdowns imposed in several countries. This gap in demand and supply is leading to a decline in the global trade of thermal management devices.

Servers & Data Centers is expected to witness the second largest market growth during the forecast period

Servers & Data Centers is expected to have the second largest market growth during the forecast period, by end-user application. Data centers consist of thousands of data processing equipment such as servers, switches, and routers, which radiate large quantities of energy and heat. The heat generated in these data centers must be properly dissipated to prevent rise in their temperature and consequent degradation of their reliability, which leads to additional maintenance costs. In data centers, thermal management is necessary to carry out smooth operations such as data placement, data migration, data replication, and data access task distribution as well as scheduling and controlling disk speeds.

Convection cooling devices to account for largest market share of thermal management market in 2019

Convection cooling devices dominated the thermal management market in 2019. Convection cooling devices are experiencing a growing demand for use in electronic components and electronic circuits. These devices help to reduce the peak temperature of different components wherein they are installed utilizing natural and forced convection cooling technologies. The developing market for consumer electronics in APAC region has contributed to the high market share for these devices in the APAC region. However, the advanced cooling devices are expected to register the fastest market growth during the forecast period owning to factors such as increased adoption of microchannel cooling in consumer electronics, and direct immersion cooling in servers & data centers.

Nonadhesive materials are expected to witness largest market share in 2020

Based on thermal material types, nonadhesive thermal management material is expected to account for a share of 67% in the thermal management market. These materials get recharged in tandem with the constantly changing surrounding temperatures, which makes them ideal for various everyday applications that require temperature control.

Asia Pacific is leading the thermal management market, globally, by market share, in 2019

The development of consumer electronics industry in Asian economies such as China, Japan, South Korea, and India drives the thermal management market in the region. The region has also emerged as a central point for increasing investments and business expansion capabilities for major key players from the thermal management market. Favorable economic conditions and cheap labor costs in the region are the key driving factors for increasing business opportunities. The region has witnessed a high demand for electric and hybrid vehicles in the past years. Moreover, developing chip manufacturing companies in China and South Korea are driving the growth for thermal management market in APAC.

The recent COVID-19 pandemic is expected to impact the global thermal management industry. The entire supply chain is disrupted due to limited supply of parts. For instance, the outbreak of COVID-19 in China resulted in lockdown measures which included the shutdown of manufacturing facilities and warehouses and affected the global exports and shipments of various industries. The lockdown also led to a fall in the domestic and export demand for consumer electronics, automotive vehicles, and other industrial equipment and devices as the impact of covid-19 spread to other countries.

Thermal Management Market by Region

Key Market Players

The thermal management market is dominated by a few globally established players such as Honeywell International (US), Aavid Thermalloy (US), Vertiv (US), European Thermodynamics (UK), and Master Bond (US).

These companies have adopted both organic and inorganic growth strategies such as new product launches, partnerships, agreements, mergers and acquisitions, and expansions to strengthen their position in the market.

Scope of the Report

Report Metric

Details

Market Size Available for Years

2016–2025

Base Year

2019

Forecast Period

2020–2025

Forecast Unit

Value (USD Million/Billion)

Segments Covered

By Material, By Device, By Service, By End-Use Industry, and By Region

Geographic Regions Covered

North America, Europe, APAC, and RoW

Companies Covered

The major players include Honeywell International (US), Aavid Thermalloy (US), Vertiv (US), European Thermodynamics (UK), and Master Bond (US) (Total 25 companies)

This report categorizes the thermal management market based on material, device, service, end-use industry at the regional and global level

By Material:

  • Adhesive Material
  • Nonadhesive Material

By Device:

  • Conduction Cooling Devices
  • Convection Cooling Devices
  • Advanced Cooling Devices
  • Hybrid Cooling Devices

By Service:

  • Installation & Calibration
  • Optimization & Post-sales Support

By End-use Industry:

  • Aerospace & Defense
  • Automotive
  • Servers & Data Centers
  • Consumer Electronics
  • Enterprises
  • Healthcare
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Recent Developments

  • In April 2020, Laird Thermal Systems launched the new UltraTEC UTX Series thermoelectric cooler that offer a 10% boost in heat pumping capacity, greater temperature differential and higher efficiency than standard thermoelectric coolers. The UTX series is ideal for spot cooling applications with industrial lasers, laser projectors, medical diagnostic systems and analytical instrumentation.
  • In February 2020, Honeywell launched the Solstice E-Cooling, a breakthrough platform of liquid heat transfer agents that cool high-performance electronics more efficiently and effectively than traditional methods that use air and water. These new heat transfer agents lower operational costs for applications such as data centers that use high-performance servers.
  • In January 2020, Master Bond launched the EP17HTS-DA, which is a new one component, no mix, die-attach epoxy that is electrically conductive and withstands high temperatures. It meets NASA low outgassing specifications and has an unlimited working life at room temperature. It is recommended for applications where low volume resistivity and high-temperature resistance is required.
  • In July 2019, Boyd Corporation, the parent company of Aavid Thermalloy, acquired Lytron (US), a liquid cooling specialized thermal management company. This acquisition aligns with Boyd’s commitment to support customers’ growing needs for liquid-cooled solutions with specific volume development of liquid cold plates and heat exchangers in medical and aerospace markets, as well as dedication to technology portfolio expansion with additional chiller system solutions.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 34)
    1.1 STUDY OBJECTIVES
    1.2 DEFINITION
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
                    FIGURE 1 THERMAL MANAGEMENT MARKET
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 38)
    2.1 RESEARCH DATA
           FIGURE 2 THERMAL MANAGEMENT MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primaries
                    2.1.2.2 Key data from primary sources
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key industry insights
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for estimating size of thermal management market based on bottom-up analysis
                               FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for estimating size of thermal management market based on top-down analysis
                               FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 5 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 47)
    FIGURE 6 PRE- AND POST-COVID-19 SCENARIO FOR THERMAL MANAGEMENT MARKET
    3.1 PRE-COVID-19
    3.2 PESSIMISTIC SCENARIO (POST-COVID-19)
    3.3 OPTIMISTIC SCENARIO (POST-COVID-19)
    3.4 REALISTIC SCENARIO (POST-COVID-19)
           FIGURE 7 AUTOMOTIVE SEGMENT OF THERMAL MANAGEMENT MARKET PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
           FIGURE 8 ENGINE CONTROL THERMAL MANAGEMENT SYSTEMS SEGMENT ESTIMATED TO ACCOUNT FOR THE LARGEST SHARE OF THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE IN 2020
           FIGURE 9 NONADHESIVE MATERIALS SEGMENT PROJECTED TO ACCOUNT FOR LARGEST SIZE OF THERMAL MANAGEMENT MARKET FROM 2020 TO 2025
           FIGURE 10 CONVECTION COOLING DEVICES SEGMENT TO ACCOUNT FOR LARGEST SIZE OF THERMAL MANAGEMENT MARKET FROM 2020 TO 2025
           FIGURE 11 ASIA PACIFIC ACCOUNTED FOR THE LARGEST SHARE OF THERMAL MANAGEMENT MARKET IN 2019

4 PREMIUM INSIGHTS (Page No. - 55)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN THERMAL MANAGEMENT MARKET
           FIGURE 12 THERMAL MANAGEMENT MARKET IN ASIA PACIFIC PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
    4.2 THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY
           FIGURE 13 AUTOMOTIVE SEGMENT OF THERMAL MANAGEMENT MARKET PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
    4.3 THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY AND REGION
           FIGURE 14 AUTOMOTIVE SEGMENT AND CHINA ACCOUNTED FOR THE LARGEST SHARES OF THERMAL MANAGEMENT MARKET IN ASIA PACIFIC IN 2019
    4.4 THERMAL MANAGEMENT MARKET, BY SERVICE
           FIGURE 15 OPTIMIZATION & POST-SALES SUPPORT SEGMENT PROJECTED TO LEAD THERMAL MANAGEMENT MARKET FROM 2020 TO 2025
    4.5 THERMAL MANAGEMENT MARKET, BY GEOGRAPHY
           FIGURE 16 CHINA ESTIMATED TO ACCOUNT FOR THE LARGEST SHARE OF THERMAL MANAGEMENT MARKET IN 2020

5 MARKET OVERVIEW (Page No. - 58)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 17 THERMAL MANAGEMENT MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Rising demand for effective thermal management solutions and systems in consumer electronics
                               FIGURE 18 RISE IN THE NUMBER OF PROCESSES IN COMPUTERS LEADING TO INCREASED POWER CONSUMPTION BY THEIR MOTHERBOARDS AND HARD DISK DRIVES
                    5.2.1.2 Increasing use of electronic devices in different end-use industries
                               FIGURE 19 ELECTRIC VEHICLE SALES, 2013–2018 (MILLION UNITS)
                    5.2.1.3 Ongoing radical miniaturization of electronic devices
           5.2.2 RESTRAINTS
                    5.2.2.1 Design complexities of components used in cooling systems
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Technological advancements such as the development of synthetic cooling systems and interface materials
                    5.2.3.2 Advent of cool chips for thermal management in electronic devices
                    5.2.3.3 Increased demand for natural refrigerants
                               FIGURE 20 PHASE-DOWN OF F-GAS CONTAINING SUBSTANCES FROM 2015 TO 2030
           5.2.4 CHALLENGES
                    5.2.4.1 High development costs of customized thermal management solutions and systems
                    5.2.4.2 Increase in supply and demand gap owing to COVID-19 pandemic
    5.3 VALUE CHAIN ANALYSIS
           FIGURE 21 VALUE CHAIN ANALYSIS OF THERMAL MANAGEMENT MARKET
    5.4 THERMAL MANAGEMENT STANDARDS AND REGULATIONS
           5.4.1 CODES AND STANDARDS RELATED TO THERMAL MANAGEMENT

6 THERMAL MANAGEMENT MARKET, BY MATERIAL TYPE (Page No. - 68)
    6.1 INTRODUCTION
           FIGURE 22 NONADHESIVE MATERIALS SEGMENT PROJECTED TO LEAD THERMAL MANAGEMENT MARKET FROM 2020 TO 2025
           TABLE 1 THERMAL MANAGEMENT MARKET, BY MATERIAL TYPE, 2016–2019 (USD MILLION)
           TABLE 2 THERMAL MANAGEMENT MARKET, BY MATERIAL TYPE, 2020–2025 (USD MILLION)
           TABLE 3 THERMAL MANAGEMENT MATERIAL TYPE MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
           TABLE 4 THERMAL MANAGEMENT MATERIAL TYPE MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
           TABLE 5 THERMAL MANAGEMENT MATERIAL TYPE MARKET, BY REGION, 2016–2019 (USD MILLION)
           TABLE 6 THERMAL MANAGEMENT MATERIAL TYPE MARKET, BY REGION, 2020–2025 (USD MILLION)
    6.2 ADHESIVE MATERIALS
           TABLE 7 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET, BY TYPE, 2016–2019 (USD MILLION)
           TABLE 8 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET, BY TYPE, 2020–2025 (USD MILLION)
           FIGURE 23 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET FOR AUTOMOTIVE PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
           TABLE 9 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
           TABLE 10 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
           6.2.1 TAPES
                    6.2.1.1 Tapes are widely used for thermal management of light-emitting diodes (LEDs) used in the automotive industry
                               TABLE 11 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET FOR TAPES, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                               TABLE 12 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET FOR TAPES, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
           6.2.2 FILMS
                    6.2.2.1 Thermally conductive films
                               6.2.2.1.1 Thermally conductive films segment is projected to lead thermal management market for films from 2019 to 2024
                    6.2.2.2 Electrically conductive films
                               TABLE 13 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET FOR FILMS, BY TYPE, 2016–2019 (USD MILLION)
                               TABLE 14 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET FOR FILMS, BY TYPE, 2020–2025 (USD MILLION)
                               TABLE 15 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET FOR FILMS, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                               TABLE 16 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET FOR FILMS, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
           6.2.3 ADHESIVE LIQUIDS
                    TABLE 17 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET FOR ADHESIVE LIQUIDS, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                    TABLE 18 THERMAL MANAGEMENT ADHESIVE MATERIAL MARKET FOR ADHESIVE LIQUIDS, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
                    6.2.3.1 Heat cure liquids
                               6.2.3.1.1 Heat cure liquids cure the material generally when heated above 100°C
                    6.2.3.2 Room temperature cure liquids
                               6.2.3.2.1 Room temperature cure liquids are usually used in bonding, sealing, coating, and potting or encapsulation applications
    6.3 NONADHESIVE MATERIALS
           TABLE 19 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET, BY TYPE, 2016–2019 (USD MILLION)
           TABLE 20 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET, BY TYPE, 2020–2025 (USD MILLION)
           FIGURE 24 AUTOMOTIVE SEGMENT OF THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
           TABLE 21 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
           TABLE 22 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
           6.3.1 THERMAL PADS
                    6.3.1.1 Consumer electronics is a key end-use industry for thermal pads that is highly impacted due to COVID-19
                               TABLE 23 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET FOR THERMAL PADS, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                               TABLE 24 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET FOR THERMAL PADS, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
           6.3.2 GAP FILLERS
                    6.3.2.1 Demand for gap fillers from automotive industry is expected to increase during the forecast period
                               TABLE 25 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET FOR GAP FILLERS, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                               TABLE 26 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET FOR GAP FILLERS, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
           6.3.3 PHASE CHANGE MATERIALS
                    6.3.3.1 Phase change materials account for a significant share of the nonadhesive materials market especially during COVID-19
                               TABLE 27 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET FOR PHASE CHANGE MATERIALS, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                               TABLE 28 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET FOR PHASE CHANGE MATERIALS, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
           6.3.4 GREASE
                    6.3.4.1 Grease is increasingly used in automotive, servers & data centers, and consumer electronics industries
                               TABLE 29 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET FOR GREASE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                               TABLE 30 THERMAL MANAGEMENT NONADHESIVE MATERIAL MARKET FOR GREASE, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)

7 THERMAL MANAGEMENT MARKET, BY DEVICE (Page No. - 89)
    7.1 INTRODUCTION
           FIGURE 25 ADVANCED COOLING DEVICES SEGMENT OF THERMAL MANAGEMENT MARKET PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
           TABLE 31 THERMAL MANAGEMENT MARKET, BY DEVICE, 2016–2019 (USD MILLION)
           TABLE 32 THERMAL MANAGEMENT MARKET, BY DEVICE, 2020–2025 (USD MILLION)
    7.2 CONDUCTION COOLING DEVICES
           7.2.1 WEDGE LOCKS
                    7.2.1.1 Wedge locks are widely used thermal solutions in PCBs and SoCs
           7.2.2 POTTING MATERIALS
                    7.2.2.1 Potting materials are used to protect sensitive electronic components against heat, shock, and vibration
    7.3 CONVECTION COOLING DEVICES
           FIGURE 26 DIFFERENT TYPES OF CONVECTION COOLING DEVICES
           7.3.1 HEAT SINKS
                    7.3.1.1 Heat sinks are primary and most widely used devices to absorb heat from different systems
           7.3.2 HEAT SPREADERS
                    7.3.2.1 Heat spreaders are increasingly used in thermal monitors and medical equipment that forms a growth prospect during COVID-19
           7.3.3 FORCED AIR AND NATURAL COOLING DEVICES
                    7.3.3.1 Forced air cooling enables effective cooling, improved lifecycle, and enhanced performance of electronic components
           7.3.4 HEAT PUMPS
                    7.3.4.1 Heat pumps are increasingly used in the automotive industry
    7.4 ADVANCED COOLING DEVICES
           7.4.1 DIRECT IMMERSION COOLING
                    7.4.1.1 Direct immersion cooling has great opportunity in servers & data centers even during COVID-19 scenario
           7.4.2 MICROCHANNEL COOLING
                    7.4.2.1 Microchannel cooling heat sinks are used in 3D integrated circuits
           7.4.3 COLD PLATES
                    7.4.3.1 Cold plates are majorly used in applications with space constraints and inefficient external cooling
           7.4.4 OTHERS
    7.5 HYBRID COOLING DEVICES
           FIGURE 27 DIFFERENT TYPES OF HYBRID COOLING DEVICES
           7.5.1 ELECTROWETTING DEVICES
                    7.5.1.1 Electrowetting devices are used for thermal management of on-chip hot spots
           7.5.2 SPOT COOLERS
                    7.5.2.1 Spot coolers serve as an excellent alternative to precision cooling and mini-split systems in data centers
           7.5.3 VAPOR CHAMBERS
                    7.5.3.1 Vapor chambers are gaining traction in servers & data centers for thermal management of blade server CPUs
           7.5.4 COMPACT HEAT EXCHANGERS
                    7.5.4.1 Compact heat exchangers use metal foams and polymers to improve heat transfer as compared to other types of heat exchangers
           7.5.5 THERMOELECTRIC COOLING
                    7.5.5.1 Micro-thermoelectric coolers reduce temperature of hot spots on chips to achieve a highly uniform temperature distribution
           7.5.6 OTHERS
                    TABLE 33 THERMAL MANAGEMENT DEVICE MARKET, BY END-USE INDUSTRY, 2016–2029 (USD MILLION)
                    TABLE 34 THERMAL MANAGEMENT DEVICE MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
                    TABLE 35 THERMAL MANAGEMENT DEVICE MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 36 THERMAL MANAGEMENT DEVICE MARKET, BY REGION, 2020–2025 (USD MILLION)

8 THERMAL MANAGEMENT MARKET, BY SERVICE (Page No. - 100)
    8.1 INTRODUCTION
           FIGURE 28 THERMAL MANAGEMENT MARKET, BY SERVICE
           TABLE 37 THERMAL MANAGEMENT MARKET, BY SERVICE, 2016–2019 (USD MILLION)
           TABLE 38 THERMAL MANAGEMENT MARKET, BY SERVICE, 2020–2025 (USD MILLION)
    8.2 INSTALLATION & CALIBRATION
           8.2.1 INSTALLATION & CALIBRATION IS ESSENTIAL TO UNDERSTAND A COMPLETE AND RELIABLE HEAT BALANCE BEFORE THE INSTALLATION OF ANY THERMAL MANAGEMENT SOLUTION
    8.3 OPTIMIZATION & POST-SALES SUPPORT
           8.3.1 OPTIMIZATION & POST-SALES SUPPORT SERVICES IS ESSENTIAL TO REDUCE DOWNTIME OF SYSTEMS DUE TO IMPROPER THERMAL MANAGEMENT BY REGULAR MAINTENANCE AND SERVICE

9 THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY (Page No. - 103)
    9.1 INTRODUCTION
           FIGURE 29 THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY
           FIGURE 30 AUTOMOTIVE SEGMENT OF THERMAL MANAGEMENT MARKET PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
           TABLE 39 THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
           TABLE 40 THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
    9.2 CONSUMER ELECTRONICS
           9.2.1 LAPTOPS AND COMPUTERS
                    9.2.1.1 Cooling fans, active and passive heat sinks, and liquid cooling materials are major thermal solutions used in laptops and computers
           9.2.2 AUDIO AMPLIFIER COMPONENTS
                    9.2.2.1 Thermal management systems and solutions play a major role in protecting audio amplifiers from impairment caused by overheating
           9.2.3 POWER SUPPLY UNITS
                    9.2.3.1 Use of thermal management solutions and systems is necessary for power supply units to maintain variable temperature generated by their varying modes of operations
           9.2.4 GAMING DEVICES
                    9.2.4.1 Gaming devices with high specification hardware generate a large amount of heat, thereby leading to requirement for thermal management solutions and systems
           9.2.5 SMARTPHONES
                    9.2.5.1 Miniaturization of components and their high computing capabilities have led to increased use of thermal management solutions and systems in smartphones
           9.2.6 HOME APPLIANCES (TV SETS, FRIDGES, WASHING MACHINES, ETC.)
                    9.2.6.1 Advent of smart home appliances is expected to boost the demand for thermal management solutions and systems
                               FIGURE 31 APAC PROJECTED TO LEAD THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS FROM 2020 TO 2025
                               TABLE 41 THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2016–2019 (USD MILLION)
                               TABLE 42 THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2020–2025 (USD MILLION)
                               TABLE 43 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS, BY COUNTRY, 2016–2019 (USD MILLION)
                               TABLE 44 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS, BY COUNTRY, 2020–2025 (USD MILLION)
                               TABLE 45 EUROPE THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS, 2016–2019 (USD MILLION)
                               TABLE 46 EUROPE THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS, 2020–2025 (USD MILLION)
                               TABLE 47 APAC THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS, BY COUNTRY, 2016–2019 (USD MILLION)
                               TABLE 48 APAC THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS, BY COUNTRY, 2020–2025 (USD MILLION)
    9.3 SERVERS & DATA CENTERS
           9.3.1 SINGLE RACKS
                    9.3.1.1 Thermal management is necessary for single rack data centers to manage the heat dissipation from power supplies, servers, and equipment
           9.3.2 MULTI RACKS
                    9.3.2.1 Heat management is carried out in multi rack data centers to achieve desired performance
                               TABLE 49 THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY TYPE, 2016–2019 (USD MILLION)
                               TABLE 50 THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY TYPE, 2020–2025 (USD MILLION)
                               FIGURE 32 THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS IN NORTH AMERICA PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
                               TABLE 51 THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY REGION, 2016–2019 (USD MILLION)
                               TABLE 52 THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY REGION, 2020–2025 (USD MILLION)
                               TABLE 53 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY COUNTRY, 2016–2019 (USD MILLION)
                               TABLE 54 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY COUNTRY, 2020–2025 (USD MILLION)
                               TABLE 55 EUROPE THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY COUNTRY, 2016–2019 (USD MILLION)
                               TABLE 56 EUROPE THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY COUNTRY, 2020–2025 (USD MILLION)
                               TABLE 57 APAC THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY COUNTRY, 2016–2019 (USD MILLION)
                               TABLE 58 APAC THERMAL MANAGEMENT MARKET FOR SERVERS & DATA CENTERS, BY COUNTRY, 2020–2025 (USD MILLION)
    9.4 AUTOMOTIVE
           9.4.1 BATTERY THERMAL MANAGEMENT SYSTEMS
                    9.4.1.1 Increased use of batteries in electric vehicles is contributing to demand for thermal management solutions and systems
           9.4.2 ENGINE CONTROL THERMAL MANAGEMENT SYSTEMS
                    9.4.2.1 Increased use of engine control thermal management systems in vehicles is contributing to growth of thermal management market
           9.4.3 WASTE HEAT RECOVERY AND EMISSION REDUCTION SYSTEMS
                    9.4.3.1 Rise in the use of thermal management solutions and systems for heat recovery and emission reduction in vehicles is fueling growth of thermal management market
           9.4.4 BRAKE AND SUSPENSION COOLING SYSTEMS
                    9.4.4.1 Coolant pumps and engine cooling jackets are key thermal management solutions used in brake and suspension cooling systems
           9.4.5 SEAT HEATING AND COOLING SYSTEMS
                    9.4.5.1 Innovations in personalized seat comfort systems is a key factor fueling adoption of thermal management solutions and systems in vehicles
           9.4.6 AUTOMOTIVE LIGHTING SYSTEMS
                    9.4.6.1 Development of stylish 3D LED daytime running lights, turn signal lights, and high/low beams lights driving the growth of thermal management market
                               TABLE 59 THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY SYSTEM TYPE, 2016–2019 (USD MILLION)
                               TABLE 60 THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY SYSTEM TYPE, 2020–2025 (USD MILLION)
                               FIGURE 33 APAC PROJECTED TO LEAD THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE FROM 2020 TO 2025
                               TABLE 61 THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY REGION, 2016–2019 (USD MILLION)
                               TABLE 62 THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY REGION, 2020–2025 (USD MILLION)
                               TABLE 63 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY COUNTRY, 2016–2019 (USD MILLION)
                               TABLE 64 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY COUNTRY, 2020–2025 (USD MILLION)
                               TABLE 65 EUROPE THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY COUNTRY, 2016–2019 (USD MILLION)
                               TABLE 66 EUROPE THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY COUNTRY, 2020–2025 (USD MILLION)
                               TABLE 67 APAC THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY COUNTRY, 2016–2019 (USD MILLION)
                               TABLE 68 APAC THERMAL MANAGEMENT MARKET FOR AUTOMOTIVE, BY COUNTRY, 2020–2025 (USD MILLION)
    9.5 AEROSPACE & DEFENSE
           9.5.1 INCREASED INVESTMENTS IN DEFENSE SECTOR FOR DEVELOPMENT OF NEW SYSTEMS FUELING GROWTH OF THERMAL MANAGEMENT MARKET
                    FIGURE 34 APAC THERMAL MANAGEMENT MARKET FOR AEROSPACE & DEFENSE PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
                    TABLE 69 THERMAL MANAGEMENT MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 70 THERMAL MANAGEMENT MARKET FOR AEROSPACE & DEFENSE, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 71 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR AEROSPACE & DEFENSE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 72 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR AEROSPACE & DEFENSE, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 73 EUROPE THERMAL MANAGEMENT MARKET FOR AEROSPACE & DEFENSE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 74 EUROPE THERMAL MANAGEMENT MARKET FOR AEROSPACE & DEFENSE, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 75 APAC THERMAL MANAGEMENT MARKET FOR AEROSPACE & DEFENSE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 76 APAC THERMAL MANAGEMENT MARKET FOR AEROSPACE & DEFENSE, BY COUNTRY, 2020–2025 (USD MILLION)
    9.6 ENTERPRISES
           9.6.1 FLOURISHING IT INDUSTRY IS LEADING TO INCREASED ADOPTION OF COMPUTING DEVICES EQUIPPED WITH THERMAL MANAGEMENT SYSTEMS AND SOLUTIONS
                    FIGURE 35 APAC THERMAL MANAGEMENT MARKET FOR ENTERPRISES PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
                    TABLE 77 THERMAL MANAGEMENT MARKET FOR ENTERPRISES, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 78 THERMAL MANAGEMENT MARKET FOR ENTERPRISES, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 79 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR ENTERPRISES, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 80 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR ENTERPRISES, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 81 EUROPE THERMAL MANAGEMENT MARKET FOR ENTERPRISES, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 82 EUROPE THERMAL MANAGEMENT MARKET FOR ENTERPRISES, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 83 APAC THERMAL MANAGEMENT MARKET FOR ENTERPRISES, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 84 APAC THERMAL MANAGEMENT MARKET FOR ENTERPRISES, BY COUNTRY, 2020–2025 (USD MILLION)
    9.7 HEALTHCARE
           9.7.1 LARGE INFRASTRUCTURE EQUIPMENT
                    9.7.1.1 Use of thermal management solutions and systems in large infrastructure equipment leading to growth of thermal management market
           9.7.2 PORTABLE EQUIPMENT
                    9.7.2.1 Thermal systems and solutions are used in portable equipment for effective thermal energy transfer to ensure safe, effective, and targeted management system therapy to patients
                    TABLE 85 THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY EQUIPMENT TYPE, 2016–2019 (USD MILLION)
                    TABLE 86 THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY EQUIPMENT TYPE, 2020–2025 (USD MILLION)
                               FIGURE 36 APAC THERMAL MANAGEMENT MARKET FOR HEALTHCARE PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
                    TABLE 87 THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 88 THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 89 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 90 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 91 EUROPE THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 92 EUROPE THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 93 APAC THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 94 APAC THERMAL MANAGEMENT MARKET FOR HEALTHCARE, BY COUNTRY, 2020–2025 (USD MILLION)
    9.8 OTHER END-USE INDUSTRIES
           9.8.1 USE OF IOT DEVICES IN MANUFACTURING AND RETAIL INDUSTRIES HAS LED TO GROWTH OF THERMAL MANAGEMENT MARKET
                    FIGURE 37 APAC THERMAL MANAGEMENT MARKET FOR OTHER END-USE INDUSTRIES PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
                    TABLE 95 THERMAL MANAGEMENT MARKET FOR OTHER END-USE INDUSTRIES, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 96 THERMAL MANAGEMENT MARKET FOR OTHER END-USE INDUSTRIES, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 97 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR OTHER END-USE INDUSTRIES, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 98 NORTH AMERICA THERMAL MANAGEMENT MARKET FOR OTHER END-USE INDUSTRIES, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 99 EUROPE THERMAL MANAGEMENT MARKET FOR OTHER END-USE INDUSTRIES, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 100 EUROPE THERMAL MANAGEMENT MARKET FOR OTHER END-USE INDUSTRIES, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 101 APAC THERMAL MANAGEMENT MARKET FOR OTHER END-USE INDUSTRIES, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 102 APAC THERMAL MANAGEMENT MARKET FOR OTHER END-USE INDUSTRIES, BY COUNTRY, 2020–2025 (USD MILLION)
    9.9 MOST IMPACTED END-USE INDUSTRY SEGMENT OF THERMAL MANAGEMENT MARKET BY COVID-19
           9.9.1 CONSUMER ELECTRONICS
                    FIGURE 38 PRE- AND POST-COVID-19 MARKET SCENARIO FOR CONSUMER ELECTRONICS SEGMENT OF THERMAL MANAGEMENT MARKET
                    TABLE 103 PRE- AND POST-COVID-19 SCENARIO OF THERMAL MANAGEMENT MARKET FOR CONSUMER ELECTRONICS (USD MILLION)
                    9.9.1.1 Impact analysis
    9.10 LEAST IMPACTED END-USE INDUSTRY SEGMENT OF THERMAL MANAGEMENT MARKET BY COVID-19
           9.10.1 HEALTHCARE
                    FIGURE 39 PRE- AND POST-COVID-19 SCENARIO OF THERMAL MANAGEMENT MARKET FOR HEALTHCARE
                    TABLE 104 PRE- AND POST-COVID-19 SCENARIO OF THERMAL MANAGEMENT MARKET FOR HEALTHCARE (USD MILLION)
                    9.10.1.1 Impact analysis

10 REGIONAL ANALYSIS (Page No. - 142)
     10.1 INTRODUCTION
               FIGURE 40 THERMAL MANAGEMENT MARKET IN APAC PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
               TABLE 105 THERMAL MANAGEMENT MARKET, BY REGION, 2016–2019 (USD MILLION)
               TABLE 106 THERMAL MANAGEMENT MARKET, BY REGION, 2020–2025 (USD MILLION)
     10.2 NORTH AMERICA
             FIGURE 41 NORTH AMERICA THERMAL MANAGEMENT MARKET SNAPSHOT
             TABLE 107 THERMAL MANAGEMENT MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
             TABLE 108 THERMAL MANAGEMENT MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
             FIGURE 42 THERMAL MANAGEMENT MARKET IN NORTH AMERICA FOR SERVERS & DATA CENTERS PROJECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
             TABLE 109 NORTH AMERICA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
             TABLE 110 NORTH AMERICA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.2.1 NORTH AMERICA EXPECTED TO BE THE MOST IMPACTED REGION BY COVID-19
                       FIGURE 43 PRE- AND POST-COVID-19 SCENARIO FOR NORTH AMERICA THERMAL MANAGEMENT MARKET
                       TABLE 111 PRE- AND POST-COVID-19 SCENARIO OF NORTH AMERICA THERMAL MANAGEMENT MARKET (USD MILLION)
             10.2.2 US
                       10.2.2.1 Increasing demand for heat management in electric cars and smart cars is fueling growth of thermal management market in the US
                                   TABLE 112 US THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 113 US THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.2.3 CANADA
                       10.2.3.1 Rising consumption of consumer electronics in Canada is contributing to growth of thermal management market in the country
                                   TABLE 114 CANADA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 115 CANADA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.2.4 MEXICO
                       10.2.4.1 Improving economic condition and increasing spending capacity of population are leading to increased demand for consumers electronics in Mexico
                                   TABLE 116 MEXICO THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 117 MEXICO THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
     10.3 EUROPE
             FIGURE 44 EUROPE THERMAL MANAGEMENT MARKET SNAPSHOT
             TABLE 118 EUROPE THERMAL MANAGEMENT MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
             TABLE 119 EUROPE THERMAL MANAGEMENT MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
             TABLE 120 EUROPE THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
             TABLE 121 EUROPE THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.3.1 IMPACT OF COVID-19 ON EUROPE THERMAL MANAGEMENT MARKET
                       FIGURE 45 PRE- AND POST-COVID-19 SCENARIO FOR EUROPE THERMAL MANAGEMENT MARKET
                       TABLE 122 PRE- AND POST-COVID-19 SCENARIO OF EUROPE THERMAL MANAGEMENT MARKET (USD MILLION)
             10.3.2 UK
                       10.3.2.1 Flourishing automotive, servers & data centers, and consumer electronics industries in the UK are fueling growth of thermal management market in the country
                                   TABLE 123 UK THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 124 UK THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.3.3 GERMANY
                       10.3.3.1 Flourishing automotive industry in Germany is expected to fuel growth of thermal management market in the country
                                   TABLE 125 GERMANY THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 126 GERMANY THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.3.4 FRANCE
                       10.3.4.1 Increasing demand for thermal management solutions and systems from servers & data centers and automotive industries is fueling growth of thermal management market in France
                                   TABLE 127 FRANCE THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 128 FRANCE THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.3.5 REST OF EUROPE
                                   TABLE 129 REST OF EUROPE THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 130 REST OF EUROPE THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
     10.4 ASIA PACIFIC (APAC)
             FIGURE 46 APAC THERMAL MANAGEMENT MARKET SNAPSHOT
             TABLE 131 APAC THERMAL MANAGEMENT MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
             TABLE 132 APAC THERMAL MANAGEMENT MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
             TABLE 133 APAC THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
             TABLE 134 APAC THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.4.1 APAC EXPECTED TO RECOVER AT FAST RATE FROM THE IMPACT OF COVID-19
            FIGURE 47 PRE- AND POST-COVID-19 SCENARIO FOR APAC THERMAL MANAGEMENT MARKET
            TABLE 135 PRE- AND POST-COVID-19 SCENARIO OF APAC THERMAL MANAGEMENT MARKET (USD MILLION)
             10.4.2 JAPAN
                       10.4.2.1 Consumer electronics and automotive are leading industries contributing to growth of thermal management market in Japan
                                   TABLE 136 JAPAN THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 137 JAPAN THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.4.3 CHINA
                       10.4.3.1 Rising demand for thermal management solutions and systems from automotive and consumer electronics industries is contributing to growth of thermal management market in China
                                   TABLE 138 CHINA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 139 CHINA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.4.4 SOUTH KOREA
                       10.4.4.1 Thermal management market for consumer electronics in South Korea is expected to grow at a significant rate
                                   TABLE 140 SOUTH KOREA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 141 SOUTH KOREA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.4.5 INDIA
                       10.4.5.1 Demand for thermal management solutions and systems from automotive, servers & data centers, and consumer electronics industries is driving growth of thermal management market in India
                                   TABLE 142 INDIA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 143 INDIA THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
             10.4.6 REST OF APAC
                                   TABLE 144 REST OF APAC THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                                   TABLE 145 REST OF APAC THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
     10.5 REST OF THE WORLD
             10.5.1 SOUTH AMERICA LEADS THERMAL MANAGEMENT MARKET IN ROW
                       TABLE 146 ROW THERMAL MANAGEMENT MARKET, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 147 ROW THERMAL MANAGEMENT MARKET, BY REGION, 2020–2025 (USD MILLION)
                       TABLE 148 ROW THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                       TABLE 149 ROW THERMAL MANAGEMENT MARKET, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)

11 COMPETITIVE LANDSCAPE (Page No. - 175)
     11.1 OVERVIEW
             FIGURE 48 COMPANIES ADOPTED PRODUCT LAUNCHES & DEVELOPMENTS AS KEY GROWTH STRATEGY FROM JANUARY 2017 TO MAY 2020
     11.2 RANKING OF KEY MARKET PLAYERS
             FIGURE 49 THERMAL MANAGEMENT MARKET: COMPANY RANKING ANALYSIS (2019)
     11.3 COMPETITIVE LEADERSHIP MAPPING
             11.3.1 VISIONARY LEADERS
             11.3.2 DYNAMIC DIFFERENTIATORS
             11.3.3 INNOVATORS
             11.3.4 EMERGING COMPANIES
                       FIGURE 50 THERMAL MANAGEMENT MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
     11.4 STRENGTH OF PRODUCT PORTFOLIO (FOR 25 COMPANIES)
             FIGURE 51 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN THERMAL MANAGEMENT MARKET
     11.5 BUSINESS STRATEGY EXCELLENCE (FOR 25 COMPANIES)
            FIGURE 52 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN THERMAL MANAGEMENT MARKET
     11.6 COMPETITIVE SCENARIO
             11.6.1 PRODUCT LAUNCHES & DEVELOPMENTS
                       TABLE 150 TOP 10 PRODUCT LAUNCHES & DEVELOPMENTS, JANUARY 2017–MAY 2020
             11.6.2 PARTNERSHIPS AND AGREEMENTS
                       TABLE 151 PARTNERSHIPS AND AGREEMENTS, JANUARY 2017–MAY 2020
             11.6.3 MERGERS & ACQUISITIONS AND EXPANSIONS
                       TABLE 152 MERGERS & ACQUISITIONS AND EXPANSIONS, JANUARY 2017–MAY 2020

12 COMPANY PROFILES (Page No. - 187)
     12.1 INTRODUCTION
(Business Overview, Products & solutions Offered, COVID-19 related developments, SWOT Analysis, and MnM View)*
     12.2 KEY PLAYERS
             12.2.1 HONEYWELL
                       FIGURE 53 HONEYWELL: COMPANY SNAPSHOT
             12.2.2 AAVID THERMALLOY (BOYD CORPORATION)
             12.2.3 VERTIV
                       FIGURE 54 VERTIV: COMPANY SNAPSHOT
             12.2.4 EUROPEAN THERMODYNAMICS
             12.2.5 HENKEL
                       FIGURE 55 HENKEL: COMPANY SNAPSHOT
             12.2.6 MASTER BOND
             12.2.7 LAIRD
             12.2.8 DELTA ELECTRONICS
                       FIGURE 56 DELTA ELECTRONICS: COMPANY SNAPSHOT
             12.2.9 ADVANCED COOLING TECHNOLOGIES, INC.
             12.2.10 PARKER (CHOMERICS DIVISION)
                         FIGURE 57 PARKER: COMPANY SNAPSHOT
     12.3 OTHER COMPANIES
             12.3.1 DAU THERMAL SOLUTIONS
             12.3.2 AMERASIA INTERNATIONAL (AI) TECHNOLOGY
             12.3.3 HEATEX
             12.3.4 LORD CORPORATION
             12.3.5 API HEAT TRANSFER
             12.3.6 THERMOTEK
             12.3.7 JARO THERMAL
             12.3.8 DANFOSS
             12.3.9 KELVION
             12.3.10 GENTHERM

*Details on Business Overview, Products & solutions Offered, COVID-19 related developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.

13 ADJACENT & RELATED MARKETS (Page No. - 223)
     13.1 INTRODUCTION
     13.2 LIMITATIONS
     13.3 THERMAL INTERFACE PADS & MATERIAL MARKETS
             13.3.1 MARKET DEFINITION
             13.3.2 MARKET OVERVIEW
                       FIGURE 58 CONSUMER ELECTRONICS IS EXPECTED TO WITNESS A HIGH GROWTH RATE DURING THE FORECAST PERIOD
             13.3.3 THERMAL INTERFACE PADS & MATERIAL MARKET, BY APPLICATION
                       13.3.3.1 Consumer electronics
                                   TABLE 153 CONSUMER ELECTRONICS MARKET, BY REGION 2014-2020 (USD MILLION)
                       13.3.3.2 Telecom equipment
                                   TABLE 154 TELECOM EQUIPMENT MARKET, BY REGION 2014-2020 (USD MILLION)
                       13.3.3.3 Power supply units
                                   TABLE 155 POWER SUPPLY UNITS MARKET, BY PRODUCT, 2014-2020 (USD MILLION)
                       13.3.3.4 Others
                                   TABLE 156 OTHERS MARKET, BY PRODUCTS 2014-2020 (USD MILLION)
             13.3.4 THERMAL INTERFACE PADS & MATERIAL MARKET, BY REGION
                       13.3.4.1 North America
                                   TABLE 157 NORTH AMERICAN TIM MARKET, BY TYPE, 2014-2020 (USD MILLION)
                                   TABLE 158 NORTH AMERICAN TIM MARKET, BY APPLICATION 2014-2020 (USD MILLION)
                       13.3.4.2 Europe
                                   TABLE 159 EUROPEAN TIM MARKET, BY TYPE, 2014-2020 (USD MILLION)
                                   TABLE 160 EUROPE TIM MARKET, BY APPLICATION, 2014–2020 (USD MILLION)
                       13.3.4.3 APAC
                                   TABLE 161 APAC TIM MARKET, BY TYPE, 2014-2020 (USD MILLION)
                                   TABLE 162 APAC TIM MARKET, BY APPLICATION, 2014–2020 (USD MILLION)
                       13.3.4.4 Rest of the World (ROW)
                                   TABLE 163 ROW TIM MARKET, BY TYPE, 2014–2020 (USD MILLION)
                                   TABLE 164 ROW TIM MARKET, BY APPLICATION, 2014–2020 (USD MILLION)
     13.4 THERMAL INTERFACE MATERIAL MARKETS
             13.4.1 MARKET DEFINITION
             13.4.2 MARKET OVERVIEW
                       FIGURE 59 ASIA PACIFIC TO WITNESS THE HIGHEST GROWTH RATE DURING THE FORECAST PERIOD
             13.4.3 THERMAL INTERFACE MATERIAL MARKET, BY APPLICATION
                       13.4.3.1 Computers
                                   TABLE 165 THERMAL INTERFACE MATERIALS MARKET SIZE IN COMPUTERS APPLICATION, BY REGION, 2014–2021 (USD MILLION)
                                   TABLE 166 THERMAL INTERFACE MATERIALS MARKET SIZE IN COMPUTERS APPLICATION, BY REGION, 2014–2021 (TON)
                       13.4.3.2 Telecom
                                   TABLE 167 THERMAL INTERFACE MATERIALS MARKET SIZE IN TELECOM APPLICATION, BY REGION, 2014–2021 (USD MILLION)
                                   TABLE 168 THERMAL INTERFACE MATERIALS MARKET SIZE IN TELECOM APPLICATION, BY REGION, 2014–2021 (TON)
                       13.4.3.3 Medical devices
                                   TABLE 169 THERMAL INTERFACE MATERIALS MARKET SIZE IN MEDICAL DEVICES APPLICATION, BY REGION, 2014–2021 (USD MILLION)
                                   TABLE 170 THERMAL INTERFACE MATERIALS MARKET SIZE IN MEDICAL DEVICES APPLICATION, BY REGION, 2014–2021 (TON)
                       13.4.3.4 Industrial machinery
                                   TABLE 171 THERMAL INTERFACE MATERIALS MARKET SIZE IN INDUSTRIAL MACHINERY APPLICATION, BY REGION, 2014–2021 (USD MILLION)
                                   TABLE 172 THERMAL INTERFACE MATERIALS MARKET SIZE IN INDUSTRIAL MACHINERY APPLICATION, BY REGION, 2014–2021 (TON)
                       13.4.3.5 Consumer durables
                                   TABLE 173 THERMAL INTERFACE MATERIALS MARKET SIZE IN CONSUMER DURABLE APPLICATION, BY REGION, 2014–2021 (USD MILLION)
                                   TABLE 174 THERMAL INTERFACE MATERIALS MARKET SIZE IN CONSUMER DURABLE APPLICATION, BY REGION, 2014–2021 (TON)
                       13.4.3.6 Automotive electronics
                                   TABLE 175 THERMAL INTERFACE MATERIALS MARKET SIZE IN AUTOMOTIVE ELECTRONICS APPLICATION, BY REGION, 2014–2021 (USD MILLION)
                                   TABLE 176 THERMAL INTERFACE MATERIALS MARKET SIZE IN AUTOMOTIVE ELECTRONICS APPLICATION, BY REGION, 2014–2021 (TON)
                       13.4.3.7 Others
                                   TABLE 177 THERMAL INTERFACE MATERIALS MARKET SIZE IN OTHER APPLICATION, BY REGION, 2014–2021 (USD MILLION)
                                   TABLE 178 THERMAL INTERFACE MATERIALS MARKET SIZE IN OTHER APPLICATION, BY REGION, 2014–2021 (TON)
             13.4.4 THERMAL INTERFACE MATERIAL MARKET, BY REGION
                       13.4.4.1 North America
                                   TABLE 179 NORTH AMERICA: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (USD MILLION).
                                   TABLE 180 NORTH AMERICA: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (TON)
                       13.4.4.2 Europe
                                   TABLE 181 EUROPE: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (USD MILLION)
                                   TABLE 182 EUROPE: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (TON)
                       13.4.4.3 Asia Pacific
                                   TABLE 183 ASIA PACIFIC: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (USD MILLION)
                                   TABLE 184 ASIA PACIFIC: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (TON)
                       13.4.4.4 Middle East & Africa
                                   TABLE 185 MIDDLE EAST & AFRICA: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (USD MILLION)
                                   TABLE 186 MIDDLE EAST & AFRICA: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (TON)
                       13.4.4.5 South America
                                   TABLE 187 SOUTH AMERICA: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (USD MILLION)
                                   TABLE 188 SOUTH AMERICA: THERMAL INTERFACE MATERIALS MARKET SIZE, BY APPLICATION, 2014–2021 (TON)

14 APPENDIX (Page No. - 245)
     14.1 INSIGHTS OF INDUSTRY EXPERTS
     14.2 QUESTIONNAIRE FOR THERMAL MANAGEMENT MARKET
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     14.4 AVAILABLE CUSTOMIZATIONS
     14.5 RELATED REPORT
     14.6 AUTHOR DETAILS

The study involved four major activities in estimating the size of the thermal management market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete markets size. After that, market breakdown and data triangulation were used to estimate the market sizes of segments and sub-segments.

Secondary Research

In the thermal management market report, both top-down and bottom-up approaches have been used to estimate and validate the size of the thermal management market, along with other dependent submarkets. The key players in the thermal management market have been identified through secondary research, and their market ranks have been determined through primary and secondary research. This entire research methodology involved studying annual and financial reports of the top players and interviewing experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both quantitative and qualitative). All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters that may affect the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Primary Research

The thermal management market supply chain comprises several stakeholders, such as component suppliers, manufacturers, system integrators, distribution channels, marketing & sales, and end-users. The demand side of this market is characterized by aerospace & defense, automotive, servers & data centers, consumer electronics, enterprises, healthcare, and other industries; the supply side is characterized by technology and hardware suppliers, solution providers, and system integrators. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. . Several primary interviews have been conducted with market experts from both the demand and supply-side players across four major regions, namely, North America, Europe, APAC, and RoW.

Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of the primary respondents is provided below:

Thermal Management Market Size, and Share

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of thermal management market and its segments. The research methodology used to estimate the market size includes the following:

  • Key players in the market have been identified through extensive secondary research
  • The supply chain and the size of the thermal management market, in terms of value, have been determined through primary and secondary research processes
  • Several primary interviews have been conducted with key opinion leaders related to thermal management, including key OEMs, IDMs, and Tier I suppliers.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
  • Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.

Global Thermal Management Market Size: Bottom-Up Approach

Thermal Management Market Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation process explained above—the market has been split into several segments and subsegments. Data triangulation and market breakdown procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for each segment and subsegment of the market. The data has been triangulated by studying various factors and trends from both demand and supply sides of the thermal management market.

Report Objectives

  • To define, describe, and forecast the thermal management market based on material, device, service, end-use industry, and region
  • To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
  • To briefly describe the thermal management value chain
  • To segment and forecast the thermal management market size by material (adhesive and nonadhesive)
  • To segment and forecast the thermal management market size by device (conduction, convection, advanced, and hybrid)
  • To segment and forecast the thermal management market size by service (installation & calibration and optimization & post-sales support)
  • To segment and forecast the thermal management market size by end-user application (aerospace & defense, automotive, servers & data centers, consumer electronics, industrial, healthcare, and others)
  • To forecast the thermal management market size in key regions, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW)
  • To analyze competitive developments such as product launches and developments, agreements, partnerships, mergers, acquisitions, joint ventures, expansions, and research and development (R&D) activities in the thermal management market

Available Customizations:

Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
  • Estimation of the market size of the device segments of the thermal management market based on different subsegments
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Published ON
Jul, 2020
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